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Perpetual preferred stock has: Par value- $50/share dividend rate- 7%/year investors require- 9.5% per year return to hold pref. stock. what is its value per

Perpetual preferred stock has:

Par value- $50/share

dividend rate- 7%/year

investors require- 9.5% per year return to hold pref. stock.

what is its value per share?

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